NEW DELHI: Expressing solidarity, country's top IT majors such as Infosys and Wipro on Sunday said they will not proactively approach clients of "We have already made the announcement that we will not poach any Satyam employee. We will not proactively approach their clients and customers either... but clients have to decide for themselves and they have the right to choose their partner at work," Infosys HR director MohanDas Pai said. "I can't say no to customers if they come to me with more businesses. We already have customers which are common with Satyam. If they are giving us more business we will not say no. It is definitely creating problems for customers," Wipro CFO Suresh Senapathy said in an interview to a Television channel. Analysts has said that over half a dozen rivals of the tainted IT firm Satyam Computer have started exploring ways to take over the business from its various clients, a global technology consultancy firm had said. Satyam is likely to see its clients as well as employees deserting it soon due to the competitive wooing by rivals and top IT firms such as Infosys would continue to shore up their market share, analysts at Forrester Research said in a report. "Large and small clients alike will look to other suppliers they already work with as an immediate fallback position as the confusion continues. More than half a dozen providers have already called Forrester to discuss competitive strategies for taking over business in joint accounts," it added. "Both clients and employees will desert Satyam as a result of competitive wooing. In our interactions with several of Satyam's employees across the organisation they showed utter frustration," Forrester Research's VP and PrincipalAnalyst, John McCart and its Senior Analyst in India, Sudin Apte said in the report. IT industry body Nasscom has also said that it will refrain from poaching employees from Satyam. The government's move to constitute a new three-member board with HDFC chairman Deepak Parekh, former NASSCOM chief Kiran Karnik and former SEBI member C Achuthanis expected to restore the confidence of the investors, employees and clients as well. | |
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Monday, January 12, 2009
Wipro, Infosys 'not to poach' Satyam staff or clients
Satyam ex-CFO denies role in fudging 11 Jan 2009, 2200 hrs IST, TNN
HYDERABAD: Satyam's chief financial officer (CFO) Vadlamani Srinivas on Sunday claimed that he had no knowledge of fudging of over Rs 7,000
crore by former chairman B Ramalinga Raju.
According to sources, Vadlamani in his confession stated he wasn't aware of the fraud as his 80-member team provided him documents and he blindly signed on them.
Crime Investigation Department sleuths raided houses of the Raju brothers in Jubilee Hills and Vadlamani's residence at Habsiguda on Sunday.
Crime Investigation Department sleuths raided houses of the Raju brothers in Jubilee Hills and Vadlamani's residence at Habsiguda on Sunday.
Around 8am, five special teams of CID personnel reached the houses of the Rajus on Road Number 62, Jubilee Hills, and Vadlamani's house on Street Number 3, Habsiguda, armed with search warrants. During the searches, the special teams, comprising CID and city police personnel, seized several documents and copied data from computers on the three premises. The CID is also working with SEBI and Registrar of Companies in the searches at Satyam's offices in Hyderabad.
The CID sleuths said there were no raids on houses of the directors of the superseded board (the Centre named three new directors on Sunday) and none of them had been arrested. "As part of the investigation, all persons or organisations involved in the Satyam case will be questioned. But so far, Satyam's board of directors, independent directors and PwC personnel have not been questioned,'' additional DG (CID) A Sivanarayana said.
Vadlamani, who was questioned by CID officials for nearly 18 hours, was produced before VI additional chief metropolitan magistrate P Ramakrishna on Sunday evening. He was remanded in judicial custody till January 23 and was shifted to the Chanchalguda jail.
Police have sought custody of Vadlamani and their petition will come up for hearing on Monday. The CID officials were tightlipped on the revelation. "Vadlamani has to be questioned further. So, we have moved a petition seeking his custody,'' IG (CID) VSK Kaumudi said.
The CID sleuths said there were no raids on houses of the directors of the superseded board (the Centre named three new directors on Sunday) and none of them had been arrested. "As part of the investigation, all persons or organisations involved in the Satyam case will be questioned. But so far, Satyam's board of directors, independent directors and PwC personnel have not been questioned,'' additional DG (CID) A Sivanarayana said.
Vadlamani, who was questioned by CID officials for nearly 18 hours, was produced before VI additional chief metropolitan magistrate P Ramakrishna on Sunday evening. He was remanded in judicial custody till January 23 and was shifted to the Chanchalguda jail.
Police have sought custody of Vadlamani and their petition will come up for hearing on Monday. The CID officials were tightlipped on the revelation. "Vadlamani has to be questioned further. So, we have moved a petition seeking his custody,'' IG (CID) VSK Kaumudi said.
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